The concept of living in the center of town, with the pulse of the city (especially this city) as the backdrop, is something I relish. Add to that the notion of condo living (no yard, etc.) and it becomes a dream. And then there is the whole portfolio of architectural interest found in the residences of downtown — all heady stuff.

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Yes, living downtown, either as an owner or a renter, is an idea that has great appeal for many, including me.

In fact, the idea is so popular that real estate professionals familiar with the area say those hoping to make their urban oasis dreams come true should waste no time in finding a place, signing a contract and getting an address downtown.

MiX OF BUYERS

An interesting mix of buyers is attracted to downtown at this time, ranging from professional athletes to entrepreneurs, retirees to downsizers, and young professionals who are often connected to the burgeoning biomedical industry.

And for many of these young adventurers, the idea of living in the heart of the city has great appeal.

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“Most are people coming in with entrepreneurial companies,” said Terry Roff of GARDNER, Realtors. “When they think of buying they want to be in an urban area where you can walk to things.”

Recent developments in retail and commercial endeavors have made downtown a pedestrian Valhalla.

Some of the area’s top eateries, entertainment venues, meeting spaces and commerce centers now sit amidst supermarkets, recreation opportunities and arts of every design.

Downtown still remains a great spot for a second or vacation home.

“The second-home market is back with a vengeance,” said John Schaff of LATTER & BLUM, Inc./Realtors. “People want to be in New Orleans. With low interest rates, we’re seeing something . . . that didn’t exist two years ago.”

Some of the buyers are “people in the state who have been very successful,” said Jo Ann Pisciotta of RE/MAX Real Estate Partners. “They want a place in the city where they can come and bring their visitors — the city has a lot to offer everyone.”

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Agents also point to buyers who are already residents of the area, living in rental units now available for purchase. As sales and rentals activity becomes more robust, some investors are selling properties.

WHAT’S AVAILABLE

What the buyers are finding in the area to either purchase or rent is impressive.

From lofts to penthouses that would make Eva Gabor swoon, downtown has a remarkable assemblage of architecture, style and price.

Realtors point to a very brisk market in the $200,000-and-under range, with one agent noting a property going under contract for sale within 24 hours of being on the market.

Condos can also go for several digits, depending on the size, the view and the building amenities. Properties at the top end of the financial spectrum may have somewhat less demand, but Realtors said higher-end dwellings are popular with buyers, particularly investors.

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Another unique aspect of the downtown market is the diversity that can be found in a particular building. Agents note within the same structure, buyers can find many options for design, decor and description.

TIME TO ACT

Those hoping to put down roots in this bustling area will find there are properties to be had but the professionals in the home-buying business caution against waiting too long to decide.

“There’s actually still a good inventory but things are flying off really quickly,” said Lee Penebaker of COLDWELL BANKER TEC Realtors.

With the number of available properties in the double digits, buyers interested in getting into a downtown living space should take steps sooner rather than later. Contacting a Realtor and getting loan approval are good first steps.

By Victor M. AndrewsSpecial Sections staff writerVictor Andrews can be reached at vandrews@timespicayune.com